Credit Suisse cuts India FY13 growth forecast

MUMBAI Thu Dec 6, 2012 9:15am IST

1 of 2. Labourers erect scaffolding at a construction site in the southern Indian city of Hyderabad November 4, 2008.

Credit: Reuters/Krishnendu Halder/Files

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MUMBAI (Reuters) - Credit Suisse has lowered India's economic growth forecast marginally to 5.9 percent from 6 percent for the fiscal year ending March.

The investment bank also reduced its growth forecast for FY14 to 6.9 percent from 7.2 percent, it said in a research note.

"This largely reflects the delayed RBI rate response, although we continue to stress that our projections are above those of the consensus," the bank said in a note.

(Reporting by Subhadip Sircar; Editing by Jijo Jacob)

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